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Credit Karma To Pay $160K For Issuing Unregistered Stock

Law360 (March 13, 2018, 1:51 PM EDT) -- The privately held financial technology company Credit Karma will pay $160,000 to settle claims by the U.S. Securities and Exchange Commission that it failed to register stock options offered to its employees, the agency said Monday.

The SEC said in a cease-and-desist order that the payment will resolve claims that the San Francisco-based Credit Karma issued approximately $13.8 million in stock options to employees between October 2014 and September 2015 but neither registered the offering nor complied with Rule 701 disclosure requirements to secure an exemption...
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